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DOJ Charges $236M Crypto Crime Ring That Spent Millions at Nightclubs
DOJ Charges $236M Crypto Crime Ring That Spent Millions at Nightclubs
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U.S. prosecutors have expanded charges against a cybercrime syndicate accused of laundering $263 million in cryptocurrency through elaborate schemes involving mixers, shell companies, and even stuffed toys. The ring allegedly funneled illicit gains into luxury cars, nightlife excess, and high-end goods.
Twelve additional defendants—including Malone Lam (20) and Jeandiel Serrano (21)—were indicted in a case revealing sophisticated social engineering tactics. The unsealed charges coincide with FBI data showing crypto investment fraud surged to $5.8 billion in losses last year.
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